4.3 Results of the Study
4.3.5 Current Status of ERM Policies and Practices in UAE HEIs
4.3.5.1 Exploring the Status of ERM Policies and Practices in UAE HEIs through Survey Questions
By focusing on the “Agree” option only, which has the highest score as explained in Table 4.30, the above statistics clearly show that the institution type variable has some contribution to the choice of maturity testing answers by the survey participants. The statistics show that participants from the selected private universities agreed more than the participants from the selected public universities to the existence of ERM maturity elements in their institutions. The results also show that the tendency to “Agree” on the existence of ERM implementation maturity elements is more evident among faculty members and those who identified themselves as both administrators and faculty members, than administrators only. The reason why faculty members show a stronger tendency to agree is not very clear to the researcher, but one speculation could be the greater knowledge and experience of faculty members, which could have led faculty members to show clearer perceptions of a more mature ERM implementation at their respective institutions.
However, since the main aim of the researcher is to investigate the perceptions of faculty members and ERM administrators in terms of the effectiveness of ERM implementation in their HEIs, further statistical analysis of the participants’ responses on ERM effectiveness maturity may be useful to the results, especially when conducted in the light of the currently adopted ERM policies and practices in UAE HEIs.
For that purpose, the first part of the next section will harbour some statistical analysis of the survey results in relation to the research objective of exploring the current status of ERM policies and practices in UAE HEIs.
implementation at their respective institutions.
In terms of whether the participants are aware of the existence of a clear and written ERM policy in their institutions (Q35), the participants expressed a high level of awareness that confirmed the existence of such a policy in all selected institutions. Table 4.31 shows that “Extremely aware” (38.38% of all responses) and “Very aware” (51.52% of all responses) were the two top choices of the majority of respondents (n= 89).
Table 4.33 – Results of Awareness Regarding the Adoption of a Clear ERM Policy Statement Count Percentage Order (descending)
Extremely aware 38 38.38% 1. Very aware
Very aware 51 51.52% 2. Extremely aware
Somewhat aware 6 6.06% 3. Somewhat aware
Not so aware 3 3.03% 4. Not so aware
Not at all aware 1 1.01% 5. Not at all aware
In a previous section on the results of ERM adoption, the results were presented in relation to the reasons for adopting a clear ERM policy or framework (item Q36). As explained in Tables 4.17, 4.18 and 4.20, the main impetus for adopting a clear risk management or ERM policy was as a direct response to and compliance with official regulatory laws such as those mandated by the CAA Standards of the UAE’s MoE. The majority of the responses, representing 91.5% of the respondents in the public institutions and 84.9% of the respondents in the private institutions, selected “Compliance with official regulatory laws”
as the main driver for the adoption of a clear ERM policy.
To further support the understanding of the status of already adopted ERM policies in the selected UAE HEIs, item Q37 was directed to obtain the participants’ awareness of the major elements contained in the adopted ERM policy or framework. These elements were listed by the researcher based on the generally accepted components of risk management policies cited in the literature and further investigated in the Conceptual Framework of this study. Table 4.34 and Figure 4.9 show the list of concepts and elements agreed by the respondents to exist in the current ERM policies adopted by their respective institutions.
Table 4.34 – Elements of Currently Adopted ERM Policies
Statements Count Order (descending)
Risk assessment and evaluation 43 1. Risk assessment plan
Risk assessment plan 44 2. Risk assessment and evaluation
Risk tolerance 19 3. All of the above
Risk appetite 13 4. Risk mitigation
Risk impact 25 5. Risk concepts
Risk concepts 26 6. Risk impact
Risk mitigation 34 7. Quality assurance stipulations
Quality assurance stipulations 20 8. Risk tolerance
All of the above 41 9. Risk appetite
None of the above 1 10. None of the above
Other 0 11. Other
Figure 4.9 – Elements of Currently Adopted ERM Policies
The results in Table 4.34 show that 41 responses, representing 40% of all responses, selected “All of the above”, indicating that the risk management policies in the selected UAE HEIs contain all the required elements, ranging from risk concepts, mitigation, impact and appetite to elements such as risk assessment and evaluation. At least half of the responses were in favour of the “risk assessment plan” and “risk assessment and evaluation” being essential elements of the existing ERM policies. Investigating the results of this question in accordance with the different demographic variables identified by the researcher led to very minor statistical differences that are not worth mentioning. All participants, whether from public or private institutions, and whether faculty members, administrators, or both, agreed on the concepts and elements contained in the risk management policies currently adopted by their respective institutions.
In summary, the statistical results of the quantitative survey confirm the conclusion that, no matter what the impetus is, all the selected UAE HEIs have adopted a clear ERM or risk management policy. The statistical results also show that regardless of the type of institution or role of the participant, all the responses agreed on the general elements and concepts adopted in the existing ERM policies. The survey results also show that 59.18% of the responses agreed that the existing ERM policies helped the selected academic institutions achieve and boost their academic effectiveness (item Q38). Through document analysis and interviews, the next sections will present further qualitative investigations into the current status of the adopted ERM policies in the selected institutions and how these policies could play a major role in the sustainment of academic effectiveness.
4.3.5.2 Exploring the Status of ERM Policies and Practices in UAE HEIs through Document Analysis